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EU: Acquisition of Evonik’s methacrylates business by Advent cleared

 |  July 3, 2019

The European Commission has approved the acquisition of the methacrylates business division of Evonik Industries (Evonik) of Germany by Advent International Corporation (Advent) of the US.

Evonik’s methacrylates business division manufactures methyl methacrylate and other methacrylate derivatives, which are used as an input for the production of certain coating resins, as well as certain other types of resins.

Advent is a private equity investor, which controls among others Allnex of Belgium, a company active in the production of coating resins.

The Commission concluded that the proposed acquisition would raise no competition concerns given, on the one hand, the limited horizontal overlap between the companies’ activities and, on the other hand, the absence of anti-competitive vertical effects resulting from the combination of the activities of Allnex and Evonik’s methacrylates business.

The transaction was examined under the normal merger review procedure.

Full Content: Europa Press

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